Shearlaw & Menham Fine Food Exporters - Abbreviated accounts 16.3

REGISTERED NUMBER: SC453670 (Scotland)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2016

for

Shearlaw & Menham Fine Food

Exporters Ltd

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

R C Shearlaw

A I Menham

REGISTERED OFFICE:

3 Wellington Square

Ayr

KA7 1EN

REGISTERED NUMBER:

SC453670 (Scotland)

ACCOUNTANTS:

Sinclair Scott Chartered Accountants

3 Wellington Square

Ayr

Ayrshire

KA7 1EN

CURRENT ASSETS

Stocks

98,457

-

Debtors

18,378

-

Cash at bank and in hand

124

100

116,959

100

CREDITORS

Amounts falling due within one year

120,545

-

NET CURRENT (LIABILITIES)/ASSETS

(3,586

)

100

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,586

)

100

CAPITAL AND RESERVES

Called up share capital

2

100

Profit and loss account

(3,686

)

-

SHAREHOLDERS' FUNDS

(3,586

)

100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and
which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable
to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 October 2016 and were signed on its behalf by:

R C Shearlaw - Director

1.	ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

TURNOVER

The turnover shown in the profit and loss account represents revenue recognised by the company in respect of the

commission on the import and export of goods during the period, exclusive of Value Added Tax and any trade discounts if

appropriate.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

3.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2016 and 30 June 2015:

2016

2015

£

R C Shearlaw

Balance outstanding at start of year

-

Amounts advanced

(23,000

)

-

Amounts repaid

-

Balance outstanding at end of year

(23,000

)

-

A I Menham

Balance outstanding at start of year

-

Amounts advanced

(88,219

)

-

Amounts repaid

-

Balance outstanding at end of year

(88,219

)

-